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on to conservative principles very closely. for example, the need for what they call a pro-growth economy, like senator ron johnson. let me play for you what he had to say. >> this president simply doesn't understand that and as a result he's going to punish success, put at risk the economic growth that we really need to create jobs, revenue that we need. >> this is sort of the talking point that we've been hearing all along. is there any indication around capitol hill that there is some softening on that? >> i don't even know what that means, putting -- basically, i believe that the argument is that only by decreasing taxes can you lead to growth. there is a lot of historical evidence that that is not necessarily the case. i think the issue for the gchop right now is whether the tax cuts expire for everyone or whether for only those with income over $250,000. >> let me bring in jim from the national journal. jim, we had a little technical problem there. let me ask you about what she said said. can anything be decided at all until a decision is made about who is going to have tax cuts expire if
. again, the economy is doing a little better. the unemployment numbers have been a little better, but what's the impact? >> 2 million people -- >> 2 million would lose. >> -- would lose income. here's the thing. there's a lot of talk of these people are looking or not looking for jobs, they're just taking this check. that's not the case. there's only one job for every three folks looking for a job. so there literally is not a job available for two of those people. so they have this income, unemployment insurance which keeps them in the economy, a functioning part of the economy, so they can spend the money. so the economic policy institute went ahead and extrapolated. if you were to keep this $30 billion cost of extended unemployment insurance, actually, that will pump another $15 billion to $18 billion into the economy because these folks are spending money. and that's what fuels our economy. >> some of the people who argue that we should go off the fiscal cliff, that it will push them to negotiate a sort of more thoughtful deal -- >> right. >> -- they say that it's not a fiscal
's going quickly enough, we still need to goose the economy some. and the republicans are flabbergasted that he's not already making concessions and all he's asking for is okay guys, you say we don't have to raise the top rate, show me how you're going to do it with all these deductions many of which by the way are popular. you want more medicare cuts show me what you want and i think this is a perfectly normal negotiation and i was thinking on the way here, chris, you and i have an advantage in this. you and i covered albany, new york on the state legislature there, where you had a divided legislature, unbelievably contorted by budget fights and in the end they usually made a deal. it was complicated, sometimes it was ugly but they got to a deal. >> but they often got to it very late as you'll recall and state workers didn't get paychecks. >> this did happen. but they got there. and i ambiting more on a deal than not. i think there are some compromise points, for example, raise the top rate almost to where obama wants it and fill it in a little bit with some reduction in deductions. th
that's dramatic on the economy, that will slow down development of our economy in a time we're looking to increase more jobs, why would we do this? how does this stimulate the economy and how does it solve the debt? the president's proposal is $160 billion of new taxes a year on a $1 trillion problem. we've got to get to the spending side. >> let me play for you what the president said about this. >> unfortunately, the speaker's proposal right now is still out of balance. he talks for example about $800 billion from revenues but says he's going to do that by lowering rates and when you look at the math it doesn't work. >> he says, congressman, the math doesn't add up. >> i'd like to see how he's doing his math on his spending cuts. so far take the spending cuts from last year and count them again this year, also going to end the war in 2014 so we'll have savings, won't wore row as much and take that as $2 trillion in savings. neither of those are real savings or cuts. the statement we won't borrow as much because we're ending the war and saying we never did a tax increase let's count i
of not getting a deal on time and the effect that will have on the economy. >> we absolutely want to avoid going over the fiscal cliff because it would be a big drag on the economy. >> but are you willing to do that? >> what we're willing to do is come up with a package that both accelerates economic recovery, but also begins to reduce the long term deficit and the president's been very clear that that means asking higher income earn eaers to pay who are. more. so the real question is whether republicans will agree with tom cole who the other day said we should agree with the president. so let's get that done. let's not hold the middle class hostage to getting a bonus tax break for folks at the top. so it was great to hear tom come forward on that. obviously he's taken some heat within his caucus, but that would obviously avoid the fiscal cliff. >> congressman chriss van hollen, thanks so much. appreciate it. >>> so he mentioned tom cole. let me play what he had to say. >> the president is willing to accept 80% of the bush tax cuts for 9d 8% of the american peopl and make them permanent, we shou
these frightening details about what happens to the economy if we go off the fiscal cliff, a key point they say consumer spending would take a $200 billion hit next year. is there a growing sense, though, dana, that going off the cliff would be preferable to caving on issues that are important frankly to both sides? >> certainly the extremes on both sides are saying that it may be preferable. it is entirely possible that that's what will happen. sort of like those discussions of can we survive, you know, the nuclear winter. it is -- the good news is that a deal is fairly obvious what needs to be put into it. it's just a question of when the political will comes together. it can be done very quickly if people are willing to, but it does seem as if they are now preparing for the blame game that follows with the assumption that they're going off the fiscal cliff with whatever economic calamity comes with it. >> i want to bring in congressman peter defazio, a democrat from oregon. good morning. >> good morning. >> you're one of the folks who have said, correct me if i'm wrong, that republicans won'
Search Results 0 to 5 of about 6

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